Member Info for Proselenes

Shocking ?

No.......totally expected. Might even hit the teens over the boring summer months.............drip drip drip is what will happen, the bulls will run out of top up funds having purchased at 100p, 90p, 80p, 70p, 60p, 50p, 40p, 30p......and when they run out of money, the drop continues each time. As they say, never try to catch a falling knife......let it fall.

https://www.adn.com/business-economy/energy/2020/02/26/huge-drilling-rig-takes-an-unusual-drive-down-alaskas-dalton-highway/

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http://petrotal-corp.com/wp-content/uploads/2018/06/PetroTal-Investor-Presentation-February-2020-FINAL-2.26.2020.pdf

You have in effect 1 year of doing nothing now.

No way the share price will rise imo...........just going to be trickle of bored sellers over the summer as the share price drips downwards into the 20's. Dead money now for a year.....not many will want to leave it for a year dead in ECO. Most will sell out and use the money on other stocks and return to ECO most likely January 2021.

This will be down in the 20's over the summer.........pretty much bolted on imo.

https://www.energyvoice.com/promoted/225337/charlie-1-looms-as-potential-company-maker-for-88-energy-articleisfree/

This was so easy to read...... now watch the drip drip drip selling as nobody wants their cash locked up for a year doing nothing...........summer weakness, selling.........methinks this will now go down to the 20's....... in time.

H1 2021........ just as I said.

Who was right chaps ? The rampers saying drilling imminent ?

Or me saying next year ?

............While it is Eco's intention, and there remains the potential, to conduct a drilling program later this year, the need to integrate the new data learned from recent discoveries in the region into our understanding of the Block's geology may result in further drilling and appraisal activity taking place in H1 2021...............

......we will deliver.......

Email reply from the boss.....after someone asking why figures are erratic on the PP website for offtake.

"We have executed flawlessly during the past two years, and we have provided good guidance for 2020. Stop looking at the Perupetro website.
We now have 20,000 barrel storage tanks, so we don’t have to fiscalize every single day. I have explained before that sometimes the person from Perupetro doesn’t send the reports, hence a 0 shows up, and others 20,000 barrels show up when he sends two reports together. We are working to continue growing production to 20,000 bopd , and produce 4.94 MMBO from the 1.5 MMBO we produced last year. Those are our targets, and we will deliver.

Also, Perupetro fiscalizes CRUDE oil, and we sell to Petroperu crude oil blended with 4% diluent.

Regards,
Manolo

Manuel (Manolo) Pablo Zúñiga-Pflücker
President and CEO

PetroTal Corp”

I mean, if the CEO was quoted just over a week ago as saying.....if not drilling in 6 months then LIKELY end of the year.......kind of suggests things look very weak, and MOST LIKELY its 2021. He would not commit to drilling in 2020.........

https://i.ibb.co/km2jdtw/ECO.jpg

https://www.thedialogue.org/energy-advisor/

February 21, 2020

What’s at Stake for Guyana’s Oil Sector in the Elections?

Guyana’s general elections are scheduled for March 2, with the two main parties—ruling coalition A Partnership for National Unity, or APNU, and the opposition People’s Progressive Party, or PPP—vying for the presidency and control of the 65-seat parliament. PPP candidate Irfaan Ali said last month that the government’s deal with ExxonMobil for oil exploration and production offshore Guyana will not be renegotiated, but agreements with other firms, including Tullow Oil, Repsol and Total, would be “examined in totality.” How is Guyana’s electoral race shaping up? Who are the candidates to watch? What are the most important proposals with regard to the oil sector, and what’s at stake for Guyana’s blooming oil production?

Valérie Marcel, associate fellow in the energy, environment and resources program at Chatham House: “The stakes of the upcoming elections are high for the little South American-Caribbean nation, as it has just ...................

Just to correct that.......go back on ADVFN........ he was buying millions at 0.7p........ :)

https://guyaneseonline.net/2020/02/15/guyana-oil-ppp-govt-would-renegotiate-deals-for-kaieteur-canje-and-other-blocks-jagdeo/

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Dont forget.........March 2nd 2020 is the Guyana Election (finally....been delayed long enough)

The PPP have a chance of winning.

The PPP has said openly they will not do anything against Exxon as they are in production - but all other licenses would be revoked and/or renegotiated.

That would have a massive impact on TLW and ECO.

So for any TLW or ECO shareholder, you better be hoping the PPP does not win the election on the 2nd of March.

To quote......

............While a PPP government would not change the terms under which ExxonMobil is operating, it would renegotiate the agreements with other companies "because they were poorly negotiated," the party said.

"The agreement with ExxonMobil has led the company to reach very far in its production plans," the PPP said. "Changing this at this stage would be disruptive to the country's short and medium-term economic plans, so we would leave that agreement alone."

But a PPP government would renegotiate terms agreed with other companies to give Guyana greater benefits, the party said............

Well, have to wait and see if there is news. If not then its likely a pump and dump so someone could sell out as much as possible.

There are reasons behind the scenes that could make an urgent exit desirable, not only have you got this new EIA requirement before any more exploration drills - but the Guyana elections are on March the 2nd. The opposition PPP are intimating renegotiation with Exxon and also cancellation of other licenses where there has only been exploration drilling and not in production - which would put a massive risk over all license areas. So if someone gets a sniff the PPP might win the election then there is a very urgent reason to dump stock. The pump and dump is a great way to offload a lot of stock for a better price, before you have to dump the rest for a much lower price.

What I see.........closed at 0.61 CAD which is down 7.58%..........

Looks like someone wanted to sell out and created and Pump and Dump............

From Numis

PetroTal (Buy, TP: 50p) 21% increase in 2P reserves underpins growth

PetroTal, which is developing the Bretana field onshore Peru, has reported a strong 21% increase in independently audited 2P reserves to 47.7mmbbls. This growth is driven by the excellent operational results delivered by the team in 2019. Reported 2P reserves are ~2% ahead of our risked NAV modelling – we incorporated an expectation reserves would increase at YE 2019 and this has now been delivered. PetroTal trades at 0.51x our discovered resource NAV, a 23% discount to the sector on 0.66x. We forecast strong FCF generation of ~US$0.5bn over the next 5yrs at US$65/bbl Brent, equivalent to ~2.25x the current market cap. We continue to see the potential for further NAV increases over time towards our un-risked 88p/sh, if the production performance of the field tends towards that of other analogue fields in the region.

• Growth across all reserves categories: Strong reserves growth was repeated across all reserves categories, with 1P (proven) reserves increasing 20%, 2P reserves (proven + probable, or most likely) increasing 21%, and even 3P reserves (proven + probable + probable) increasing 8% to 84.8mmbbls.
• Recovery factor increase, more to go for: The recovery factor attributed by the reserves auditor has increased from 12% to 13.6% at the 2P level, and the 2P reserves assessment now approximates management’s internal estimate. There is still plenty of room for the recovery factor to increase over time; management believes a recovery factor of ~24% could be achieved given the performance of analogue fields in the region. Our discovered resource NAV stands at 49p/sh; this increases to 88p/sh in the higher recovery factor scenario, ~3.5x the current share price.
• Drilling restarted: Planned maintenance of the drilling rig is now complete and the 6H development well commenced drilling on 17 Feb, with completion expected around mid April. Drilling will continue through the year, and is expected to drive further production increases.
• Facilities commissioning nearing completion: Current production stands at 10mbbls/d, and has been fluctuating during commissioning of the Central Processing Facility, which is now nearing completion. We forecast production of 10.9mbbls/d for 1Q 2020 and production of 13.0mbbls/d for 2020, with 2020 production growth back-end loaded as production wells are drilled and brought onstream.

So....

- 2P reserves of 47.7 MMBBL, upgraded by 21% (+8.3 MMBBL)
- 6H well drilling underway
- NPV10 of $1.1 billion
- Zero debt, significant historical tax loss benefits

Market cap £169m.

https://www.investegate.co.uk/petrotal-corp---ptal-/rns/2019-year-end-oil-reserves-and-operational-update/202002180700093161D/

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